In December 2012, the company failed to recognize $5,700 in consulting revenue earned during 2012. This revenue

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In December 2012, the company failed to recognize $5,700 in consulting revenue earned during 2012. This revenue was recognized when the cash was received in January 2013. Make the necessary correcting entry, assuming that
(1) The error was found in May 2013 after the 2012 books had been closed
(2) The error was found in May 2014 after the 2013 books had been closed. Ignore income taxes.
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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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